ON (NYSE:ONON) Shares Gap Down – What’s Next?

Shares of On Holding AG (NYSE:ONON) gapped down prior to trading on Friday . The stock had previously closed at $43.23, but opened at $41.81. ON shares last traded at $42.42, with a volume of 1,955,272 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Zacks Research cut shares of ON from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Jefferies Financial Group set a $40.00 price objective on shares of ON and gave the company an “underperform” rating in a research note on Wednesday, August 13th. UBS Group boosted their price objective on shares of ON from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.10.

ON Trading Down 3.5%

The business’s 50-day moving average is $43.74 and its two-hundred day moving average is $48.74. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $26.27 billion, a PE ratio of 92.72, a PEG ratio of 5.18 and a beta of 2.19.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). ON had a return on equity of 8.75% and a net margin of 4.45%.The business had revenue of $944.29 million for the quarter, compared to analysts’ expectations of $707.74 million. During the same period last year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. ON has set its FY 2025 guidance at EPS. On average, analysts predict that On Holding AG will post 0.66 earnings per share for the current year.

Institutional Trading of ON

A number of institutional investors have recently added to or reduced their stakes in ONON. Bison Wealth LLC boosted its position in ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock valued at $509,000 after buying an additional 2,442 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in ON by 241.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 63,930 shares of the company’s stock valued at $2,808,000 after buying an additional 45,223 shares during the last quarter. Artemis Investment Management LLP boosted its position in ON by 4.2% in the 1st quarter. Artemis Investment Management LLP now owns 12,715 shares of the company’s stock valued at $558,000 after buying an additional 517 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in ON in the 1st quarter valued at about $48,000. Finally, Peregrine Capital Management LLC boosted its position in ON by 3.5% in the 1st quarter. Peregrine Capital Management LLC now owns 183,070 shares of the company’s stock valued at $8,040,000 after buying an additional 6,114 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.